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FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption

• EUR/NZD eased  on Tuesday  as investors geared up for a slew of economic data from the euro zone and a key U.S. inflation print later in the week.

• Investors awaited U.S. inflation data on Wednesday, alongside industrial production, employment change and GDP  data from the Eurozone.

• Technical signals are bearish as RSI is at 46, daily momentum studies  5,9 and 10 DMAs are trending down.

•  Immediate resistance is located at 1.7990( 38.2%fib), any close above will push the pair towards 1.8054 (April 25th high)

• Strong  support is seen at 1.7882(50%fib ) and break below could take the pair towards 1.7834  (Lower BB).

Recommendation: Good to sell  around 1.7920, with stop loss of 1.8000 and target price of 1.7860

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